> Sell it privately
> Sell it on our Used Car Site (Click here for details) or
> Sell it to the dealer
Selling it privately or selling it to the dealer each have their own advantages and disadvantages, which we outline below:
Selling your car privately
Advantages
> You will probably get more money for your trade-in, assuming that you present it well
Disadvantages
> You will have to incur expenses on items such as advertising, roadworthy, and detailing (cleaning and appearance renovation). These may not be minor amounts.
>These tasks will take time.
>You probably will have to use up a fair amount of physical and emotional energy to sell your car privately.
Selling your car to the dealer
Advantages
> Hassle free.
> Immediate payment or offset against the purchase cost of your new car
> Avoid advertising, roadworthy repair expenses
Disadvantages
> You may get less money for your trade-in as compared to selling privately
> Just as you save money if you paint your own house or do your own home repairs and maintenance, you will probably get a higher price for your trade-in if you sell it privately.
> On the other hand, do you want the hassle? Do you have the time?
The decision is yours to make.
Valuing your trade-in
To assist you in obtaining an approximate value for your trade-in, New Prestige Cars has subscribed to the motor industry's leading guide to car values - the Glass's Guide. These values are updated monthly by Glass's, according to industry practice.
Please note that our Glass's Guide values are exactly those supplied to car dealers, not an adjusted version. Thus, these are the values car dealers use as a guide. Currently, New Prestige Cars only provides trade-in valuations for cars less than 10 years old
It is only a guide however - the condition and mileage of your vehicle plus local market conditions at the time you trade, will determine the final value.
It is nearly always worth giving your new car supplying dealer an opportunity to purchase your trade-in. He is interested in supplying you with your new car so he will be motivated to give you a good price.
GLASS'S GUIDE
Introduction.
The Glass's guide provides a formula, whereby you can approximately determine the value of your trade-in with a fair degree of confidence. The prices in the guide reflect values of used vehicles for the past ten years and are updated monthly.
There is no exact formula for valuing used vehicles. Prices are constantly fluctuating and are influenced by a range of factors including condition, distance travelled, options, manufacturer marketing actions (on new models), popularity, economic conditions and industry stock levels.
Consequently, the prices contained in the guide don't relate to specific vehicles. They are a guide to the probable value of a vehicle that has travelled kilometres said to be average for it's age, and in 'guide' condition (Trade Values).
A more detailed definition of 'guide' condition is set out in the following pages but, in brief, the vehicle is in roadworthy condition, fully operational in terms of all mechanical and electrical parts and has no obvious body or interior trim defects. A dealer, for example, would not have to invest a lot of money to make the vehicle ready for sale in terms of both appearance and operational integrity, as determined by the various State Motor Vehicle Acts.
The Guide includes tables to adjust values for kilometre variation from average, feature adjustments (all values are based on standard models and don't include optional equipment) and regional variations.
There are two pricing categories provided:
Trade Low - which is an indicative price that a franchise dealer will place on a trade that he has no intention of retaining for resale. Older vehicles, unless there in immaculate condition, generally fall into this category, and Trade - which is the price a franchise dealer may pay for a vehicle that they intend to keep on their lot for resale, The vehicle must be in 'guide' condition in relation to the tables.
Adjustments must be made when the trade-in, for example, is not in 'guide' condition, and unless the defect relates to perhaps an undetermined mechanical problem, it is not too difficult to estimate these adjustments e.g. repair quotes for body damage or windscreen replacement, new tyres or cost of registration if it has nearly expired. The dealer will take all these things into account when he is valuing the vehicle.
